Cyprus is a unique EU jurisdiction that offers a host of financial advantages and benefits to companies and individuals. Therefore, if you are turning to new ways of conducting business we would like you to consider Cyprus as a promising option. With our assistance, registering a company in Cyprus can be as simple and fast as possible. Our experience and knowledge of the legal regime and culture of the business environment in Cyprus allow you to avoid the risks that might arise.
Benefits of formatting company in Cyprus
There are many benefits of registering your company in Cyprus. Among many other these are often considered as key benefits by many businesses:
- low corporate income tax rate of 12.5%
- no withholding taxes on interest and dividends
- extensive double tax treaty network with over 60 countries
- company in Cyprus requires only 1 shareholder and 1 director
- no capital gains tax
- low incorporation fees
- the company registration procedure is fast – usually, it takes between 5 to 10 days.
Requirements for company registration in Cyprus
- Approved name – company name needs to be approved by the Cyprus Registrar of Companies.
- Registered office – an address that is in Cyprus to which official company documentation is sent. A common practice is that the firm that helps form the new company to use their address or the company can establish its own address.
- Shareholders – at least one registered shareholder is required for new companies. Registered shareholders can be other companies, an individual resident in Cyprus, or a foreign national.
- Share capital – no minimum paid-up share capital is required and it can be in Euros or other currencies. Standard practice is for private companies to issue share capital of 1000 EUR.
- Directors – newly registered company must have at least one director and directors can be Cypriot or foreign nationals. It is strongly recommended to have the majority of directors as Cypriot residents – this is used to determine the company‘s residency for tax purposes.
- Secretary – to implement the directors‘ instructions and ensure compliance with regulatory and statutory requirements, a secretary must be appointed.
If you have any questions concerning company formation in Cyprus contact us and we will guide you every step of the way.